Insider Selling: Tango Therapeutics, Inc. (NASDAQ:TNGX) Major Shareholder Sells $392,000.00 in Stock

Tango Therapeutics, Inc. (NASDAQ:TNGX) major shareholder Rock Ventures Iv L.P. Third sold 40,000 shares of Tango Therapeutics stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $9.80, for a total value of $392,000.00. Following the completion of the sale, the insider now directly owns 17,486,475 shares in the company, valued at approximately $171,367,455. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Rock Ventures Iv L.P. Third also recently made the following trade(s):

• On Tuesday, July 30th, Rock Ventures Iv L.P. Third 95,000 shares of Tango Therapeutics stock.
• On Wednesday, July 24th, Rock Ventures Iv L.P. Third sold 200,000 shares of Tango Therapeutics stock. The stock was sold at an average price of $9.82, for a total value of $1,964,000.00.
• On Monday, July 22nd, Rock Ventures Iv L.P. Third sold 262,740 shares of Tango Therapeutics stock. The shares were sold at an average price of $9.78, for a total transaction of $2,569,597.20.
• On Wednesday, July 17th, Rock Ventures Iv L.P. Third sold 550,171 shares of Tango Therapeutics stock. The shares were sold at an average price of $9.79, for a total transaction of $5,386,174.09.

Tango Therapeutics Stock Performance

NASDAQ TNGX opened at $9.16 on Friday. The stock has a market cap of $978.75 million, a PE ratio of -8.11 and a beta of 0.83. The firm has a 50-day moving average of $8.75 and a 200-day moving average of $9.19. Tango Therapeutics, Inc. has a 52-week low of $3.18 and a 52-week high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.04). Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. The company had revenue of $6.47 million during the quarter, compared to the consensus estimate of $7.13 million. As a group, analysts predict that Tango Therapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wedbush dropped their target price on Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Guggenheim raised shares of Tango Therapeutics to a “strong-buy” rating in a research note on Tuesday, May 28th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group started coverage on shares of Tango Therapeutics in a report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 target price on the stock. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $14.86.

Institutional Trading of Tango Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in Tango Therapeutics by 12.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after buying an additional 1,426 shares during the period. SG Americas Securities LLC increased its position in Tango Therapeutics by 16.0% during the first quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock worth $242,000 after acquiring an additional 4,203 shares during the period. AJOVista LLC acquired a new stake in Tango Therapeutics in the 4th quarter worth about $61,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Tango Therapeutics by 32.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after purchasing an additional 7,128 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Tango Therapeutics by 65.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 19,569 shares of the company’s stock valued at $155,000 after acquiring an additional 7,776 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.